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Landlord/Tenant: Credit Reporting
Landlord of "assisted housing development" must oer option of rental payment reporting.
A landlord of "assisted housing development" must oer option of rental payment reporting.
Exempts multiunit properties of four or less. Exempts multiunit properties of 15 or less unless the owner is a REIT, corporation or LLC with a corporate member, and the owner owns more than one assisted housing developments
This law requires, beginning July 1, 2021, and until July 1, 2025, any landlord of an assisted housing development, unless excepted, to oer the tenant or tenants obligated on the lease of each unit in that assisted housing development the option of having the tenant’s rental payments reported to a consumer reporting agency and authorizes a landlord to require the tenant to pay a fee not to exceed the lesser of the actual cost to the landlord to provide the reporting service or $10 per month.
“Assisted housing development” means a multifamily rental housing development that receives governmental assistance under the new construction, substantial rehabilitation, moderate rehabilitation, property disposition, and loan management set- aside programs, or any other program providing project-based assistance, under Section 8 of the United States Housing Act of 1937, as amended (42 U.S.C. Sec. 1437f); and various other federal programs but does not include the tenant based Section 8 program known as the Section 8 Project-Based Voucher (PBV) program.
Senate Bill 1157 is codied as Civil Code Section 1954.06. Eective July 1, 2021.
34 The Greater San Diego Association of REALTORS®